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- LoopNet Team
1518 E 3rd St
Long Beach, CA 90802
Multifamily Property For Sale
·
22 Units
INVESTMENT HIGHLIGHTS
- Prime Alamitos Beach Location, 3 Blocks to Beach & Bike Path
- Close Proximity to Boutiques, Restaurants & Bars Along 4th Street/Retro Row
- 17 Units Fully Renovated with New Flooring, Modern Kitchens & Baths
- Historically Low Vacancy Rates
PROPERTY FACTS
| No. Units | 22 | Lot Size | 0.19 AC |
| Property Type | Multifamily | Building Size | 16,426 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1964 |
| Building Class | C | Parking Ratio | 0.97/1,000 SF |
| Zoning | LBR2N | ||
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 16,426 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 0.97/1,000 SF |
| Zoning | LBR2N |
ABOUT 1518 E 3RD ST , LONG BEACH, CA 90802
1518 E. 3rd Street is a 22-unit apartment complex located in prime Alamitos Beach, just three blocks to the ocean and bike path. The property offers a desirable mix of (19) one-bedroom and (3) two-bedroom units. Seventeen of the 22 units are fully renovated, including new flooring, modern kitchens and baths and upgraded fixtures throughout. A majority of remodeled apartments have in-unit washer/dryers and on-site laundry is available for the remaining units. The property is in close proximity to the hip boutiques, restaurants and bars along Fourth Street/Retro Row and along the Broadway Corridor. The neighborhood is also adjacent to East Village Arts District, Downtown Long Beach and a myriad of employment opportunities. According to Niche.com, Alamitos Beach ranks as the number three of 47 Best Neighborhoods for Young Professionals. Rents in this submarket are 19% higher than other Long Beach submarkets, on average. 1518 E. 3rd Street is an attractive investment asset with rental upside potential in an outstanding Alamitos Beach location with historically low vacancy rates.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 19 | $1,762 | 646 |
| 2+1 | 3 | $2,345 | 865 |
PROPERTY TAXES
| Parcel Number | 7275-012-016 | Improvements Assessment | $3,896,754 |
| Land Assessment | $3,247,296 | Total Assessment | $7,144,050 |
PROPERTY TAXES
